Liberty All-Star Equity Fund (NYSE:USA) Hits New 52-Week Low – Time to Sell?

Liberty All-Star Equity Fund (NYSE:USA) reached a new 52-week low on Friday . The stock traded as low as $5.62 and last traded at $5.6250, with a volume of 995073 shares changing hands. The stock had previously closed at $5.68.

Liberty All-Star Equity Fund Stock Performance

The company’s 50-day moving average price is $6.09 and its 200-day moving average price is $6.23.

Liberty All-Star Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Thursday, January 22nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 12.8%. The ex-dividend date of this dividend was Thursday, January 22nd. This is an increase from Liberty All-Star Equity Fund’s previous quarterly dividend of $0.17.

Hedge Funds Weigh In On Liberty All-Star Equity Fund

Several institutional investors have recently modified their holdings of USA. Rivernorth Capital Management LLC raised its stake in shares of Liberty All-Star Equity Fund by 179.0% in the fourth quarter. Rivernorth Capital Management LLC now owns 5,632,499 shares of the closed-end fund’s stock valued at $35,372,000 after acquiring an additional 3,613,785 shares in the last quarter. Absolute Investment Advisers LLC lifted its stake in Liberty All-Star Equity Fund by 632.3% in the fourth quarter. Absolute Investment Advisers LLC now owns 2,698,528 shares of the closed-end fund’s stock worth $17,109,000 after acquiring an additional 2,330,028 shares during the last quarter. Quarry LP acquired a new position in Liberty All-Star Equity Fund during the 4th quarter worth approximately $6,705,000. Raymond James Financial Inc. increased its position in shares of Liberty All-Star Equity Fund by 27.7% in the 3rd quarter. Raymond James Financial Inc. now owns 4,095,005 shares of the closed-end fund’s stock valued at $25,962,000 after purchasing an additional 889,061 shares during the last quarter. Finally, Almitas Capital LLC acquired a new stake in shares of Liberty All-Star Equity Fund in the 4th quarter valued at $5,053,000. Institutional investors and hedge funds own 9.95% of the company’s stock.

About Liberty All-Star Equity Fund

Liberty All-Star Equity Fund (NYSE: USA) is a closed-end management investment company that seeks long-term capital appreciation through an actively managed portfolio of equity securities. Listed on the New York Stock Exchange since its inception, the fund offers investors access to both U.S. and international markets within a single vehicle. It is designed to appeal to those seeking a diversified equity strategy combined with the liquidity of an exchange-traded security.

The fund’s investment approach centers on a diversified mix of common stocks and American Depositary Receipts (ADRs), spanning large-cap, mid-cap and small-cap issuers.